Pet Valu (TSE:PET) Reaches New 52-Week High - Still a Buy?

Pet Valu Holdings Ltd. (TSE:PET - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as C$34.10 and last traded at C$34.00, with a volume of 24876 shares. The stock had previously closed at C$33.54.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Canada raised shares of Pet Valu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 10th. Stifel Nicolaus raised their price target on Pet Valu from C$28.50 to C$33.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. TD Securities boosted their price objective on shares of Pet Valu from C$32.00 to C$35.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Royal Bank Of Canada increased their target price on shares of Pet Valu from C$34.00 to C$35.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Finally, ATB Capital increased their price objective on shares of Pet Valu from C$39.00 to C$40.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Seven analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average price target of C$34.33.

Pet Valu Stock Up 1.6%

The firm has a market cap of C$2.42 billion, a P/E ratio of 28.08 and a beta of 0.81. The firm has a fifty day moving average of C$30.71 and a 200-day moving average of C$27.24.

Pet Valu Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were given a dividend of $0.12 per share. This is a boost from Pet Valu's previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, May 30th. This represents a $0.48 annualized dividend and a yield of 1.41%. Pet Valu's dividend payout ratio (DPR) is presently 36.27%.

Pet Valu Company Profile

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.

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